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◆ Norwegian national champion's first unsecured euro deal since July 2023 ◆ Non-preferred green note priced with no premium ◆ Deal helped by ESG label, rarity and high ratings for the asset class
◆ French firm sells first covered deal for three weeks ◆ Five year tenor is Caffil's shortest for two years ◆ Sizeable new issue premium required
Capital to be primarily redeployed to zero-emission vehicle leasing and green transport tech
Hot market conditions encourage pre-funding, amplifying borrower dilemma ahead of busy January
Conclusive US election result and rate product woes open pre-funding options to banks
New issue premiums are needed after a difficult week to sweeten post-US election issuance prospects
Abnormal trend expected to continue posing question for FIG treasury officials
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◆ Bank markets NC5 and NC10 dual trancher with a flat curve ◆ Deal follows another long dated dollar AT1 from BNP Paribas ◆ More EM dollar AT1s in the pipe
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BBVA Mexico increases size of senior deal after taking biggest oversubscription of the day
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◆ TD prints second euro FRN of 2024 ◆ NordLB makes SNP debut ◆ Sabadell enters sterling senior market
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Wide breadth of choices is enabling investors to be picky
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◆ Deal comes close to yields on Italian govvies ◆ Tight level puts off some investors ◆ More Italian issuance due
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◆ BNP Paribas reopens most subordinated issuance in dollars ◆ Bank of Ireland goes for eyewateringly tight new deal and tender ◆ Alpha Bank tightens 50bp
Polls and awards
The covered bond market gathered in Porto to celebrate its standout deals, institutions and individuals
The best banks, issuers, individuals and other market participants were awarded at GlobalCapital's flagship industry dinner in London
The winning deals, banks, issuers and other market participants will be revealed at a gala dinner in Porto on September 12
The awards recognise the leading deals, issuers, banks and other market participants
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